Kroll Bond Rating Agency (KBRA) reaffirms the Insurance Financial Strength Ratings of A for the key insurance subsidiaries* of Lombard International Group for the fourth consecutive year.
The ratings reflect Lombard International’s strong position in a growing market and its deep expertise in the global private-placement and unit-linked life and annuity markets, positive earnings trends based on growing Assets under Administration (AuA) with high persistency, longstanding distribution relationships, profitability and low-risk business strategy.
The stable outlook reflects Lombard International’s solid capitalisation and financial ratios, combined with continued investments in technology, distribution and investment platforms to facilitate further growth.
Lombard International Group, a global leading provider of bespoke wealth, estate and succession planning solutions for high net worth individuals, families and institutions, has had its Insurance Financial Strength Ratings of A reaffirmed by KBRA for the fourth consecutive year. Lombard International Group’s key subsidiaries* were all awarded the A rating, with stable outlook.
The ratings reflect Lombard International’s strong position in a growing market and its deep expertise in the global private-placement and unit-linked life and annuity markets, positive earnings trends based on growing AuA with high persistency, longstanding distribution relationships, profitability and low-risk business strategy.
KBRA also acknowledged Lombard International’s accelerated technology advances driven by continued investments in enhancing its digital connectivity and integration with its strategic partners across its mar-kets, thus facilitating operating results growth in the future.
Commenting on the ratings, Stuart Parkinson, Group Chief Executive Officer of Lombard International, said: “I’m delighted that KBRA has reaffirmed Lombard International’s financial strength ‘A’ ratings and acknowledges for the fourth year running our robust business model and strong balance sheet. These ratings also recognise our continued investment to further enhance our business, using technology and innovation as enablers of our global growth capabilities and connectivity. These ratings are also testament to the trust that our partners and clients across Asia, Europe, Latin America and the US place on our market leading expertise, the quality and talent of our team, and the level of service that we deliver.”
Florent Albert, Group Chief Financial Officer and MD Europe, continued: “Lombard International continues to demonstrate sustained and strong growth in 2021 across its key markets worldwide, thus proving the resilience and strength of our business model in an ever more complex and uncertain world. The KBRA ratings reconfirm the momentum we are building in our highly specialized market, underpinned by our commitment to service excellence and operational efficiency, leveraging our digital capabilities and the expertise of our people.”
* Kroll Bond Rating Agency (KBRA) affirms the insurance financial strength ratings (IFSR) of A for key insurance subsidiaries of Lombard International – Lombard International Life Assurance Co.; Lombard International Life Assurance Co. of NY; Lombard International Assurance S.A.; Lombard International Life Assurance Company (Bermuda) Ltd.; Lombard International Life Ltd.; and has assigned an IFSR of A to Lombard International Global Insurance Ltd.
KBRA is a full-service credit rating agency registered as an NRSRO with the U.S. Securities and Exchange Commission. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.